H&E Equipment jumps after receiving takeover bid from Herc

United Rentals

18/02/2025 13:23

** Shares of rental equipment co H&E Equipment Services
 HEES.O  up 14% at $99.50 premarket
    ** Co receives an about $3.83 bln buyout proposal from Herc
Holdings  HRI.N 
    ** Herc offers $104.59 per share in cash and stock; offer
represents about 20% premium on H&E's last close on Friday
    ** Last month, rival United Rentals  URI.N  said it will
acquire H&E for $92 per share in cash
    ** URI says it does not intend to submit a revised takeover
bid in light of the new offer
    ** HEES stock fall 6.4% in 2024

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.Chaudhary@thomsonreuters.com))